Recovery Summer Update

The Summer Recovery Tour has just completed its scheduled stop at Yellowstone National Park, as the touching account on the White House Blog informs us.

Meanwhile…

  • The Beige Book, released yesterday, “underscored the Fed’s view that the recovery, while still moving forward, is progressing at a slower pace than earlier in the year.” (BusinessWeek)
  • James Bullard, president of the St. Louis Fed, warned yesterday “that the Fed’s current policies were putting the American economy at risk of becoming ‘enmeshed in a Japanese-style deflationary outcome within the next several years.” (NY Times)

If the AP survey  of economists is correct, VP Biden may have to extend the tour, since the real recovery summer may be  scheduled for 2010 2011…2015?

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